By Devika Patel
Knoxville, Tenn., June 6 – Toronto-Dominion Bank offered further details about a $3.25 billion sale of senior medium-term notes (Aa2/AA-) that priced in four tranches on Tuesday, according to FWP filings with the Securities and Exchange Commission and a market source.
The bank sold $900 million of two-year floating-rate notes at Libor plus 28 basis points. These notes priced at par.
Toronto-Dominion Bank priced $500 million of 3% two-year notes at a spread of Treasuries plus 55 bps. These notes priced at 99.919 to yield 3.042%.
The $750 million tranche of three-year floating-rate notes priced at Libor plus 43 bps. These notes priced at par.
Toronto-Dominion Bank sold $1.1 billion of 3.25% three-year fixed-rate notes with a spread of Treasuries plus 65 bps. These notes priced at 99.955 to yield 3.266%.
TD Securities (USA) LLC, Citigroup Global Markets Inc., Goldman Sachs & Co., and J.P. Morgan Securities LLC were the bookrunners.
The bank and financial services company is based in Toronto.
| Issuer: | Toronto-Dominion Bank
|
| Amount: | $3.25 billion
|
| Description: | Series A senior notes
|
| Bookrunners: | TD Securities (USA) LLC, Citigroup Global Markets Inc., Goldman Sachs & Co., and J.P. Morgan Securities LLC
|
| Trade date: | June 5
|
| Settlement date: | June 12
|
| Ratings: | Moody’s: Aa2
|
| S&P: AA-
|
| Distribution: | SEC registered
|
|
|
| Two-year floaters
|
| Amount: | $900 million
|
| Maturity: | June 11, 2020
|
| Coupon: | Libor plus 28 bps
|
| Price: | Par
|
| Yield: | Libor plus 28 bps
|
| Call: | Non-callable
|
|
|
| Two-year notes
|
| Amount: | $500 million
|
| Maturity: | June 11, 2020
|
| Coupon: | 3%
|
| Price: | 99.919
|
| Yield: | 3.042%
|
| Spread: | Treasuries plus 55 bps
|
| Call: | Non-callable
|
|
|
| Three-year floaters
|
| Amount: | $750 million
|
| Maturity: | June 11, 2021
|
| Coupon: | Libor plus 43 bps
|
| Price: | Par
|
| Yield: | Libor plus 43 bps
|
| Call: | Non-callable
|
|
|
| Three-year notes
|
| Amount: | $1.1 billion
|
| Maturity: | June 11, 2021
|
| Coupon: | 3.25%
|
| Price: | 99.955
|
| Yield: | 3.266%
|
| Spread: | Treasuries plus 65 bps
|
| Call: | Non-callable
|
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